Atlassian Co. (NASDAQ:TEAM) Stock Position Lowered by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lessened its position in Atlassian Co. (NASDAQ:TEAM) by 40.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,896 shares of the technology company’s stock after selling 29,709 shares during the period. Motley Fool Asset Management LLC’s holdings in Atlassian were worth $10,441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Atlassian by 12.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Atlassian during the fourth quarter worth $202,000. American Century Companies Inc. raised its position in shares of Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth $13,805,000. Finally, Royal Bank of Canada raised its position in shares of Atlassian by 17.3% during the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the period. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 0.3 %

Shares of NASDAQ:TEAM traded down $0.60 on Thursday, reaching $198.41. The company had a trading volume of 1,921,415 shares, compared to its average volume of 1,690,192. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The stock has a 50-day moving average price of $200.55 and a 200 day moving average price of $206.69. The stock has a market capitalization of $51.47 billion, a P/E ratio of -133.16 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, equities analysts expect that Atlassian Co. will post -0.4 EPS for the current year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the transaction, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, CAO Gene Liu sold 227 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the sale, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,691 shares of company stock valued at $63,759,882. Insiders own 40.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Truist Financial lifted their price target on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $224.25.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.